FxWirePro
Long

USD/JPY trades well above 200 day HMA, targets 124.35

FX:USDJPY   U.S. Dollar/Japanese Yen
288 0 7
USD/JPY             jumped till 123.45 and is currently trading at 123.37. Overall trend is bullish and further short term weakness can be seen only below 123.

The pair’s short term resistance is around 123.50 (20 day MA) and break above would extend gains till 124.15/124.40.

On the downside any break below 123 will drag the pair further down till 122.70/122.40/122.

It is good to buy around 123.35-40 with SL around 123 for the TP of 124.15/124.40
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